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Gold/Mining/Energy : Mongolia Gold Resources
MGR 21.53+0.4%12:15 PM EST
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To: RonS who wrote (1856)2/14/1998 3:38:00 PM
From: Phil Jones   of 4066
 
Thanks for your comments, Ron. I think they reflect what all those investors who have stayed with MGR have in the back of their minds, i.e. if (once?) MGR starts moving with a decent POG, the price will move up quite quickly. I guess, as Bearcatbob would say, the first thing is to see the Bumbat Mill once more in production. Then if the POG starts moving up to the US$350 range, MGR will be on safer ground. Then Dave Webb can look around in Mongolia for other opportunities, and pay for exploration with Bumbat's gold output. I still remain very hopeful for this stock. It takes a lot of guts to put up a $10M mill with the attendant drain on the bank account, and then see through a miserable unexpectedly-low POG. There's risk -- no guarantees -- but if the POG goes up in the next few months and the Bumbat Mill gets back into production with improved ore grades, it may pay off big.
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